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General

Samsung pays USD 17 mln in incentives to chip partners in H1

Monday 17 July 2017 | 14:59 CET | News

Samsung Electronics has announced that is has paid KRW 20.1 billion won (approximately USD 17.7 million) in incentives to its 138 chip suppliers in the first half of this year, The Korea Times reports. "More than 10,000 employees from 138 semiconductor partners received the incentives after reaching its productivity- and safety-related goals", an unnamed Samsung representative said.

Samsung started paying bonuses in 2010 as part of its efforts to develop shared-growth with subcontractors. Accumulated incentives total KRW 146.4 billion. Suppliers to receive bonuses are selected based on production, quality and safety. Suppliers must share the money with their employees and the rewards cannot be used for other purposes.



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Categories: General
Companies: Samsung
Countries: Korea, Republic of
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